Fitch affirms Hatton National Bank

Fitch Ratings said it affirmed Hatton National Bank plc's national long-term rating at AA-(lka), reflecting its sustained profile in terms of its good profitability, asset quality and capitalization among local commercial banks. Fitch also said it affirmed the bank's subordinated debentures at A+(lka).

The outlook remains stable.

The bank's loan growth was 9% in 2008, but declined by 4% in the first quarter of 2009 - similar to its peers, Fitch said.

The current low interest rate regime could ease pressure of further deterioration, the agency added.

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